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TORONTO, Jan. 01, 2024 (GLOBE NEWSWIRE)– Water Ways Technologies Inc. (TSXV: WWT) (FRA: WWT) (“Water Waysor the”Business), a worldwide supplier of Israeli-based farming innovation, offering water watering services to farming manufacturers is pleased to reveal the ballot arises from its Annual General and Special Meeting of Shareholders (the”Fulfilling) hung on Friday, December 29, 2023. The overall variety of shares represented by investors present face to face and by proxy at the Meeting was 62,967,155, representing 42.32% of WWT’s provided and impressive typical shares.
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All of the matters advanced before investors for factor to consider and approval, as set out in the Company’s Management Information Circular outdated November 25, 2023 (the”Circular), were authorized by the requisite bulk of votes cast at the Meeting, consisting of the approval of the Company’s rolling stock choice strategy (the”Strategy). The Plan authorized by investors was connected as Schedule “A” to the Circular and included the following product changes:
The Plan attends to the following upgraded meanings:
Expertimplies a specific (aside from a director, officer or staff member of the Company or of any of its subsidiaries) or business that: (a) is engaged to offer on a continuous authentic basis, consulting, technical, management or other services to the Company or to any of its subsidiaries, besides services supplied in relation to a circulation of securities; (b) offers the services under a composed agreement in between the Company or any of its subsidiaries and the private or the business, as the case might be; and (c) in the affordable viewpoint of the Company, invests or will invest a considerable quantity of time and attention on the affairs and service of the Company or of any of its subsidiaries;
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Expertimplies a director or an officer of the Company, (b )a director or an officer of a business that is itself an Insider or a subsidiary of the Company; (c) a business or a private (“Individual) that has (i) advantageous ownership of, or control or instructions over, straight or indirectly, or (ii) a mix of useful ownership of, and control or instructions over, straight or indirectly, securities of the Company bring more than 10% of the ballot rights connected to all the Company’s exceptional ballot securities, leaving out, for the function of the computation of the portion held, any securities held by the Person as underwriter in the course of a circulation; or (d) the Company if it has actually acquired, redeemed or otherwise obtained a security of its own concern, for so long as it continues to hold that security;
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Relation
Activitiesimplies any activities, by or on behalf of the Company or a Shareholder, that promote or fairly might be anticipated to promote the purchase or sale of securities of the Company, however does not consist of (a) the dissemination of details supplied, or records prepared, in the common course of service of the Company: (i) to promote the sale of product and services of the Company, or (ii) to raise public awareness of the Company, that can not fairly be thought about to promote the purchase or sale of securities of the Company; (b) activities or interactions needed to adhere to the requirements of: (i) relevant securities laws;
(ii) TSX Venture Exchange (“TSXVor the”Exchange) requirements or the by-laws, guidelines or other regulative instruments of any other self regulative body or exchange having jurisdiction over the Company; (c) interactions by a publisher of, or author for, a paper, publication or company or monetary publication, that is of basic and routine paid blood circulation, dispersed just to customers to it for worth or to buyers of it, if: (i) the interaction is just through the paper, publication or publication, and (ii) the publisher or author gets no commission or other factor to consider besides for acting in the capability of publisher or author; or (d) activities or interactions that might be otherwise defined by the Exchange.
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Security
Based
Payment
Strategysuggests any other settlement or reward system including the issuance or prospective issuance of securities of the Company from treasury to a Participant;
Trading Dayimplies a day when trading takes place through the centers of the Exchange; and
VWAPsuggests the volume weighted typical trading cost of the Common Shares on the Exchange determined by dividing the overall worth by the overall volume of such securities traded for the 5 Trading Days right away preceding the workout of the subject Option.”
Furthermore, the Plan has actually been changed to supply that:
| “(a) | The optimum variety of Common Shares which might be provided to: | |||
| (i) | any Consultant in any twelve (12) month duration under the Stock Option Plan might disappear than 2 percent (2%) of the variety of Common Shares exceptional, on a non-diluted basis, at the time of grant, as verified by the transfer representative and registrar for the Common Shares (the”Impressive Shares) of the Corporation; and |
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| (ii) | all Participants performing Investor Relations Activities for the Corporation in any twelve (12) month duration might be, in aggregate, no greater than 2 percent (2%) of the Outstanding Shares of the Corporation, | |||
| less the aggregate variety of shares scheduled for issuance or issuable under any other Security Based Compensation Plan of the Corporation. | ||||
| (b) | Unless the Corporation has actually gotten the requisite the approval of indifferent investors of the Corporation ballot at an appropriately called and convened of such investors; | |||
| (i) | the optimum variety of Common Shares which might be provided to any private in any twelve (12) month duration under the Stock Option Plan might disappear than 5 percent (5%) of the Outstanding Shares of the Corporation, less the aggregate variety of shares scheduled for issuance or issuable under any other Security Based Compensation Plan of the Corporation; | |||
| (ii) | the aggregate variety of Common Shares booked for issuance to Insiders (as a group) under the Plan and any other Security Based Compensation might disappear than 10 percent (10%) of the Outstanding Shares of the Corporation at any moment, and | |||
| (iii) | the aggregate variety of Common Shares for issuance to Insiders (as a group) in any twelve (12) month duration under the Plan and any other Security Based Compensation might disappear than 10 percent (10%) of the Outstanding Shares of the Corporation determined as at the date of grant or released to any Insider. | |||
| (c) | Choices, however omitting alternatives held by a Participant participated in Investor Relations Activities, might be worked out without the Participant making any money payment so the Corporation does not get any money from the workout of the subject Options, and rather the Participant gets just the variety of underlying Shares that is the equivalent to the ratio gotten by dividing: | |||
| i. | the item of the variety of choices being worked out increased by the distinction in between the VWAP of the he work out cost of the subject choices; by | |||
| ii. | the VWAP of the underlying Common Shares.” | |||
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About Water Ways Technologies
Water Ways Technologies Inc., through its subsidiaries, is a worldwide supplier of Israeli-based farming innovation, offering water watering options to farming manufacturers. Water Ways Technologies contends in the worldwide watering water supply market with a concentrate on establishing services with industrial applications in the micro and accuracy watering sections of the general market. At present, Water Ways Technologies’ primary income streams are originated from the following organization systems: (i) Projects Business Unit; and (ii) Component and Equipment Sales Unit. Water Ways Technologies is profiting from the chances provided by micro and wise watering, while likewise making a favorable mark on society by making these innovations more commonly offered, particularly in establishing markets such as Africa and Latin America and established markets such as China and Canada. Water Ways Technologies watering jobs consist of vineyards, Cotton fields, Apple and Orange orchards, Blueberries, Medical Cannabis, fresh fruit and vegetables cooling spaces and more, in over 15 nations.
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For more details, please contact
Ronnie Jaegermann
Director
T: +972-54-4202054
E: ronnie@waterwt.com
https://www.water-ways-technologies.com/
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is specified in policies of the TSX Venture Exchange) accepts duty for the adequacy or precision of this release.
Positive Statements
Specific declarations included in this news release make up “positive info” as such term is specified in appropriate Canadian securities legislation. The words “might”, “would”, “might”, “need to”, “prospective”, “will”, “look for”, “mean”, “strategy”, “prepare for”, “think”, “quote”, “anticipate” and comparable expressions as they associate with Water Ways. All declarations aside from declarations of historic truth might be positive details. Such declarations show Water Ways’ present views and intents with regard to future occasions, and present details offered to Water Ways, and undergo specific threats, unpredictabilities and presumptions. Product elements or presumptions were used in supplying positive details. Numerous aspects might trigger the real outcomes, efficiency or accomplishments that might be revealed or suggested by such positive info to differ from those explained herein must several of these dangers or unpredictabilities emerge. Needs to any element impact Water Ways in an unforeseen way, or ought to presumptions underlying the positive details show inaccurate, the real outcomes or occasions might vary materially from the outcomes or occasions forecasted. Any such positive info is specifically certified in its totality by this cautionary declaration. Water Ways does not presume obligation for the precision or efficiency of such positive details. The positive info consisted of in this news release is made since the date of this news release and Water Ways carries out no commitment to openly upgrade or modify any positive info, besides as needed by relevant law. Water Ways’ outcomes and positive details and estimations might be impacted by changes in currency exchange rate. All figures remain in Canadian dollars unless otherwise suggested
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